How carriers and subsidies are more like sharks and loans

Last week AT&T's Randall Stephenson was once again repeating the familiar refrain: that Apple and the iPhone (and now other premium smartphones, like Samsung's) demand far too high an up-front price from carriers. If anyone should be charging anyone too much, dammit, it's the carriers! Jean-Louis Gasse, once of Apple, now of Allegis Capital, lays out the case for their shameless complaints in his Monday Note: